Economic Recession Affects Textile Production  Panabaka Lakshmi |
The textile industry has been very badly affected by the global slowdown of 2008, with the handloom and power-loom production declining 3.8% and 3.2% respectively.
According to the provisional data available, production in the handloom sector in 2008-09 stood at 6,677 million square metres, as compared to 6,947 million square metres the year before. This data was presented by the Minister of State for Textiles, Panabaka Lakshmi , before the Rajya Sabha.
But, the production in mills increased a marginal 0.8% from 1,781 million square metres to 1,796 million square metres. Also, the hosiery sector witnessed an increase of 2.3% in its annual production.
The government has undertaken various schemes to support the crisis-hit textile industry, the minister said.
Some of them are: integrated handloom development scheme, marketing and export promotion scheme, handloom weavers’ comprehensive welfare scheme and technology up-gradation fund scheme and many more.
